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(has chart) LPS: House Price Index Shows 3.8 Percent Year-Over-Year Decline in August - by CalculatedRisk http://www.calculatedriskblog.com/2011/11/lps-house-price-index-shows-38-percent.html
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Ocwen terms on Chase deal look better than Litton purchase - by JON PRIOR - ... That's roughly 55 basis points of the unpaid principal balance, compared to 87 bps Ocwen had to pay on the $38.6 billion of subprime mortgages it received in the Litton deal with Goldman Sachs. The analysts also said Ocwen has historically been able to recoup advances it makes over a one- to two-year period. ... - Housingwire

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(HARP2 and more) You Can't Fix a Burst Bubble With More Hot Air: Caroline Baum - Caroline Baum, ©2011 Bloomberg - SF Chronicle 

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‘Shadow inventory’ of homes could topple real-estate recovery - A ‘shadow inventory’ of homes in foreclosure or held by banks could hobble recovery from the real estate meltdown. - BY TOLUSE OLORUNNIPA - Miami Herald
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Animal McMansion: Students Trade Dorm for Suburban Luxury - By PATRICIA LEIGH BROWN - ... While students at other colleges cram into dorm rooms, Ms. Alarab, a management major, and Ms. Foster, who is studying applied math, come home from midterms to chill out under the stars in a curvaceous swimming pool and an adjoining Jacuzzi behind the rapidly depreciating McMansion that they have rented for a song. ... - NY Times
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(slide show) The 20 Neighborhoods Where Houses Just Won't Sell - Julie Zeveloff    - Money Game at Business Insider

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BofA mired in billions of mortgage litigation - by JON PRIOR - ... In the first nine months of 2011, the bank spent $3.8 billion in litigation expenses, up from $1.2 billion over the same period last year.  ... - Housingwire
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(Barney has advice) Occupy Wall Street Gets It Half Right - BY REP. BARNEY FRANK - I am responding to a number of communications I received about the group that began as "Occupy Wall Street" and has spread to other cities as a protest movement against economic unfairness in America today. I am in general agreement with the objections they have to existing conditions. - MortgageOrb

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Report Warns Of Potential FHA Bailout - BY MORTGAGEORB.COM - The Federal Housing Administration (FHA) is systematically underestimating the default risk of its insured-loan portfolio, possibly to the tune of "many tens of billions of dollars" in future losses, according to a new report. The report - titled "Is FHA the Next Housing Bailout?" - is based on the research of Joseph Gyourko, a professor of real estate, finance and public policy at the University of Pennsylvania's Wharton School. The American Enterprise Institute (AEI) has made the report available on its website in advance of the FHA's annual actuarial report to Congress, which is due by Nov 15.
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Freddie Mac sells record-number REO at 94% of market value - by JACOB GAFFNEY - Freddie Mae sold a record number of real estate owned properties in 2011 and got pretty decent pricing on most of them, according to Tracy Mooney, senior vice president of single-family servicing and real estate owned properties at Freddie. Mooney said in a blog post Monday that the majority of REO sales at the government-sponsored enterprise are going to owner-occupants. - Housingwire

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Regulator Plans ‘Gradual Reductions’ of Pay at Fannie, Freddie - (Bloomberg Businessweek ) -- The chief regulator for Fannie Mae and Freddie Mac defended salaries and bonuses at the government- owned housing-finance companies and said he is planning for “gradual reductions” in compensation. “At the present, my plan for executive compensation is to continue to seek opportunities for gradual reductions, particularly when executives leave,” Edward J. DeMarco, acting director of the Federal Housing Finance Agency, said ...
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Congressman Garrett's Proposal to Eliminate Government Sponsored Entities Falls Short - Dory Rand, President, Woodstock Institute - ... Nonetheless, Congressman Garrett's plan takes that too far by failing to propose alternatives to the GSEs' role in promoting market stability, financing multifamily housing, and furthering fair housing. It also prevents regulators from taking important measures to get the housing market back on track, like imposing risk retention rules or mandating principal reductions for underwater loans. ... (has more points) - Huffington Post

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(get rid of jumbo conforming and guarantees) Mortgages for the ‘Middle-Rich’ Are Class Warfare Ammunition - By Shah Gilani - For weeks now I've been telling you the markets are broken.  Now I'm going to prove it. - Wall Street Examiner

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